SimonDelivers seeks and finds additional funding
It’s been a flat couple of years for sales for regional online grocer SimonDelivers.com.
The company, No. 121 in the Internet Retailer Top 500 Guide, also is adjusting to new top leadership since general counsel Liwanag Q. Ojala was promoted to president and COO last fall. She replaced CEO Christopher A. Brown, who left in October to a take another job as executive vice president, food distribution for Nash-Finch Co.
In 2006, SimonDelivers, a Minneapolis-based web grocer, posted revenue of about $60 million, a decrease of 7.2% from web sales of $64.7 million in 2005.
In an effort to rebuild sales, Ojala is conducting a strategic review. The company also recently received a new amount of undisclosed funding from Denali Partners LLC, a Minneapolis private equity firm that targets businesses that need between $1 million and $5 million in investment capital for growth, expansion or buyouts. While not providing many details, Ojala says SimonDelivers.com is working on several initiatives to become more profitable.
“Among other things we are talking to our customers,” she says. In recent years SimonDelivers spent heavily on new mobile tracking and customer service technology. In 2005 SimonDelivers introduced new order tracking technology and better logistics to give its online shoppers a more precise delivery time.
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